Oct 27, 2024 · 7 min read
401(k) vs. SIPP vs. CPF: A Look at Retirement Systems Around the World
Saving for retirement looks very different depending on where you live. We explore the key features of retirement systems in the US, UK, and Singapore to highlight the global diversity in planning for your golden years.
Understanding your country's retirement system is fundamental to effective planning. From employer-sponsored plans to mandatory government savings, the structures vary significantly across the globe.
System Spotlights
- United States (401k/IRA): A system heavily reliant on individual, tax-advantaged investment accounts, often with employer matching.
- United Kingdom (SIPP/Workplace Pension): A mix of auto-enrollment workplace pensions and flexible personal pension plans (SIPPs).
- Singapore (CPF): A mandatory, comprehensive social security savings plan that covers retirement, healthcare, and housing.
No matter where you are, our AI calculator is designed to incorporate country-specific factors to give you a relevant and accurate retirement projection.